Siemens has said that following the amalgamation of Siemens Healthcare Diagnostics, Baroda (SHDL), with itself, the empowered committee of directors (constituted by the board of directors of Siemens Ltd for the purpose of issue and allotment of the shares consequent upon the said amalgamation) on March 14 has fixed March 23, 2011, as the ‘record date' for the purpose of determining the members of SHDL to whom the equity shares will be issued and allotted by Siemens Ltd (SL).
Siemens said the amalgamation will enable appropriate consolidation of activities of SHDL and itself with pooling of resources and more efficient utilisation of their resources, greater economies of scale, reduction in overheads and other expenses and improvement n various operating parameters.
The share exchange ratio will be two equity shares of Siemens having face value of Rs 2 each for every equity share of SHDL having face value of Rs 10 each.
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